H N.

asked • 05/08/17

Five people buy individual insurance policies

Five people buy individual insurance policies. According to the research, the probability of each of these poeple not filing a claim for at least 5 years is 2/3. The probability that all 5 have not filed a claim after 5 years is 0.132, 0.868, or 1, and the probability that exactly 3 will have filed a claim after 5 years is 0.016, 0.033, or 0.067?

Lou F.

tutor
For the second part of this question, I calculate a probability of 0.165 (as shown below) but this is not one of the answer choices. Can anyone tell me what the answer actually is, and how it is calculated?
 
P(part 2) = 5C3 * (1/3)^3 * (2/3)^2 = 0.165
 
where:
5C3 = 10
1/3 = probability of each filing
2/3 = probability of each not filing
r = 3
n = 5
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05/24/18

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